FINRA Bars David Karandos, Dinosaur Financial, after Allegations of Unsuitable Investments
According to a Letter of Acceptance Waiver and Consent on July 7 , the Financial Industry Regulatory Authority (FINRA) has reportedly barred David Michael Karandos (CRD#: 1934119) after he consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA.
Karandos reportedly has 14 disclosures on his FINRA Broker Report, including 7 customer disputes, 3 regulatory events, 2 judgment/liens, and a bankruptcy in 2012, among others. Karandos reportedly has three pending customer complaints for allegations of unsuitable investment recommendations.
David Karandos was reportedly affiliated with the following FINRA registered firms, among others, during his career in the securities industry:
09/12/2013 – 11/13/2019, DINOSAUR FINANCIAL GROUP, L.L.C (CRD#:104446), Indianapolis, IN,
06/01/2009 – 03/23/2012, MORGAN STANLEY SMITH BARNEY (CRD#:149777), INDIANAPOLIS, IN
Potential Lawsuits to Recover Financial Losses
The White Law Group is investigating potential securities claims involving David Karandos and the liability his employers may have for failure to supervise him.
When brokers and registered investment advisors violate securities laws, such as taking loans from customers or making unsuitable investment recommendations, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. We represent investors in all 50 states including Indiana. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with David Karandos, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.
Tags: David Karandos barred, David Karandos complaints, David Karandos Dinosaur, David Karandos FINRA, David Karandos investigation, David Karandos investment losses, David Karandos lawsuit, David Karandos unsuitable investments Last modified: July 11, 2022